Real Estate Trends in Ahmedabad

January 31, 2007	(11 votes, average: 3.91 out of 5)  Loading ...
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Gujarat’s healthy economy finds expression in all its cities, bustling as they are with activity on all fronts. Ahmedabad, being primus inter pares among other cities in Gujarat is recognized as one of the fastest growing Tier II cities in the country today

The very strong connections of NRI to Ahmedabad, and the Gujarati’s spending power and entrepreneurial skills have encouraged a healthy movement in real estate prices of late.

Though still at a very nascent stage, Ahmedabad is slated for steady growth in the next few years. Residential property ranges between Rs.600 in Ahmedabad North to over Rs.1200 on Ring Road currently. Builders like N.G Developers, Navratna, BGP Builders and Saumya Constructions are catering to the globe-trotting Gujarati with quality residential apartments.

Cashing in on the deep pockets of the local population, major builders have laid out commercial projects for the city to accommodate retail malls and luxury hotels. Niho’s Scottish Mall is coming up on the main Ashram road on 4.5 lakh sq. ft area at a cost of Rs.180 crore. An NRI-funded exhibition-cum-convention centre at Ahmedabad at a cost of $9.2 million will further promote commercial activity in the city.

The State Government’s vision is to develop Ahmedabad into a world-class city through reforms and infrastructure development. Its mission to make the city clean, liveable, productive and self sustaining has translated into the setting up of IT parks in and around Ahmedabad.

DLF has chalked out 30 acres for the city’s IT park, while the road to Gandhinagar will see another IT SEZ project by K.Raheja Corp coming up at a cost of Rs.8,000 million. Three projects have been identified for urban infrastructure development in the city including the Sabarmati riverfront project and integrated public transit system.

With property available at very competitive rates, Ahmedabad is a sound place for real estate investment. The progressive policies of the state government in pushing for SEZs, an organized workforce, considerable investment from NRIs, and the enterprise of the local population will sustain the upward trend the city is experiencing.

The following chart sheds considerable light on the property prices of both the residential as well as commercial units in Ahmedabad:

Ahmedabad Property Rates

** Property Rates are subject to change due to market vagaries and may differ by virtue of location and project, depending and facilities and other factors.

News Published Under:   Real Estate India, Property Prices |